Tether Chairman Giancarlo Devasini Becomes Italy's Richest Man with $89 Billion Fortune

Giancarlo Devasini is an Italian businessman who has become Italy's richest man with a fortune estimated at $89.3 billion, according to Forbes.

This wealth was built through his involvement in the cryptocurrency economy, particularly through Tether, the company behind USDT, the world's largest stablecoin.

Tether issues USDT, a stablecoin designed to maintain a value close to one US dollar, which has become a kind of transit currency for the crypto world. At the end of 2025, there were more than 186 billion USDT in circulation, and Tether reported over $10 billion in profits that year.

Tether's reserves are invested in US Treasury securities, with direct holdings exceeding $122 billion by the end of 2025.